Sectoral Implications of Farm Program Modifications

Ching‐Cheng Chang · Bruce A. McCarl · James W. Mjelde · James W. Richardson

111 citations0/0 files storedAmerican Journal of Agricultural Economics

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Agricultural economics and policies Economics of Agriculture and Food Markets Agricultural Economics and Policy

Abstract

Abstract The overall and distributional effects of farm programs and selected revisions are examined using a mathematical programming sector model. The model incorporates market distortions caused by price supports, target prices, program participation, deficiency payments and marketing loans. Current farm programs are found to increase producer prices, depress consumer prices, and in turn result in excess production and higher consumption and exports. Domestic and foreign consumers as well as domestic producers are subsidized by farm programs. Social deadweight loss occurs as government payments exceed welfare benefits received by consumers and producers. Society as a whole benefits from reductions in program provisions.

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References

1980Price Endogenous Mathematical Programming As a Tool for Sector Analysis 1990Some Neglected Social Costs of Government Spending in Farm Programs 1982Cropping Activities in Agricultural Sector Models: A Methodological Proposal

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